Today: Today, 524 Shares of Affiliated Managers Group Inc. (AMG) are sold by BB&T Corp

Today, 524 Shares of Affiliated Managers Group Inc. (AMG) are sold by BB&T Corp

BB&T Corp decreased its position in shares of Affiliated Managers Group Inc. (NYSE:AMG) by 7.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,948 shares of the company’s stock after selling 524 shares during the period. BB&T Corp’s holdings in Affiliated Managers Group were worth $1,005,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Marshall Wace LLP raised its position in Affiliated Managers Group by 107.3% in the second quarter. Marshall Wace LLP now owns 602,691 shares of the company’s stock worth $84,841,000 after buying an additional 311,991 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in Affiliated Managers Group during the second quarter worth approximately $40,476,000. Fiera Capital Corp bought a new position in Affiliated Managers Group during the second quarter worth approximately $26,068,000. Sirios Capital Management L P raised its position in Affiliated Managers Group by 44.5% in the second quarter. Sirios Capital Management L P now owns 471,725 shares of the company’s stock worth $66,404,000 after buying an additional 145,196 shares in the last quarter. Finally, Atlanta Capital Management Co. L L C raised its position in Affiliated Managers Group by 7.5% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,844,648 shares of the company’s stock worth $259,672,000 after buying an additional 129,121 shares in the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Affiliated Managers Group Inc. (NYSE:AMG) traded up 1.25% during midday trading on Thursday, reaching $147.20. The company had a trading volume of 562,153 shares. The company has a 50-day moving average price of $141.80 and a 200 day moving average price of $147.64. Affiliated Managers Group Inc. has a one year low of $115.97 and a one year high of $180.01. The company has a market capitalization of $8.07 billion, a P/E ratio of 16.99 and a beta of 1.54.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, October 31st. The company reported $3.02 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.02. Affiliated Managers Group had a return on equity of 18.04% and a net margin of 21.10%. The business earned $613.10 million during the quarter, compared to analysts’ expectations of $565.44 million. During the same quarter last year, the business posted $2.93 EPS. The business’s revenue was down 11.2% on a year-over-year basis. Equities analysts anticipate that Affiliated Managers Group Inc. will post $12.79 earnings per share for the current fiscal year.

Several brokerages have issued reports on AMG. Zacks Investment Research lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 12th. Credit Suisse Group AG reissued an “outperform” rating and issued a $212.00 price target on shares of Affiliated Managers Group in a research note on Thursday, September 8th. Capital One Financial Corp. reissued a “buy” rating and issued a $188.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, October 5th. Jefferies Group dropped their price target on Affiliated Managers Group from $195.00 to $193.00 and set a “buy” rating on the stock in a research note on Tuesday, October 11th. Finally, Keefe, Bruyette & Woods dropped their price target on Affiliated Managers Group from $215.00 to $196.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 2nd. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Affiliated Managers Group currently has an average rating of “Buy” and a consensus price target of $173.67.

About Affiliated Managers Group

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms (Affiliates). The Company is focused on investing in the boutique investment management firms globally, including traditional, alternative and wealth management firms, specializing in an array of active return-oriented investment strategies.

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